Thursday, July 14, 2016

My Unfair Advantage

List of Resources & VRIN:
- my creativity: very valuable, somewhat rare, somewhat inimitable, could be substituted
- my marketing capabilities: very valuable, somewhat rare, somewhat inimitable, hard to substitute
- my growing network of people in the area: very valuable, not too rare, easily to imitate, somewhat easy to substitute
- my social media management skills: very valuable, not too rare, easy to imitate , hard to substitute
- my web development skills: valuable, somewhat rare, somewhat inimitable, hard to substitute
- availability of a boat captain: valuable, not very rare, easy to imitate, easy to substitute
- working knowledge of running a business: valuable, not very rare, easy to imitate, easy to substitute
- close access to the water/area: valuable, slightly rare, difficult to imitate, somewhat easy to substitute
- existing vendor relationships (restaurants, etc): valuable,  rare, hard to imitate, hard to substitute
- ability to obtain business loan: valuable, not very rare, easy to imitate, easy to substitute
- ability to obtain boat loan: valuable, not very rare, easy to imitate, easy to substitute
- knowledge of the shops and restaurants in Downtown Fort Myers: valuable, a little rare, easy to imitate, easy to substitute
- knowledge of little known islands and fishing holes: very valuable, rare, hard to imitate, hard to substitute
- knowledge of how to obtain liquor/beer&wine/food license: valuable, somewhat rare, hard to imitate, hard to substitute
- relationships with local government officials: valuable, rare, hard to imitate, hard to substitute

I believe the most valuable resources I currently possess are based on my existing relationships. These relationships are those with restaurants, bars, etc in the downtown area, and the relationships I have with city officials. 

I believe having a relationship with officials is rare and could help me obtain permitting and overcome certain impediments government may have in place. They could help me to navigate through them or get around them.

I believe that my company will be impossible to completely imitate based on the relationships I already have and will continue to form with the restaurants and establishments in the downtown area. I will be able to form a business partnership with them that allows us to advertise each others company's to our patrons, forming an alliance and a non-compete. If another company tried to enter my market, they will have to compete with my company's existing footprint in the area.


2 comments:

  1. Hi Lindsey,
    I think you did a great job with this assignment. The details you provided are very in-depth. I agree with your statement about your existing relationships being your most valuable resource. It is not what you know, it is who you know! You seem to have a great mix of resources that will make it much easier to succeed. Keep up the good work.

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  2. Hi Lindsey,
    I think it’s great that you already have relationships with officials and restaurants. That will certainly benefit you with your concept! Networking is so important and it looks like you’ve already done a great job at it. I agree that the relationships are not easy to imitate because they are personal and require some sort of “connection”. Everyone has different relationships with people. Good job!

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